建信期货集运指数日报-20251119

Report Information - Report Title: Container Shipping Index Daily Report [1] - Date: November 19, 2025 [2] - Researchers: He Zhuoqiao, Huang Wenxin, Nie Jiayi [3] Core View - The 12 - month contract was weak due to the under - expected price increase implementation, while the far - month price increase expectation has fermented in advance, which may lead to over - valuation of the 04 contract. It is advisable to focus on the positive spread trading opportunity between 02 - 04 contracts [8]. Summary by Directory 1. Market Review and Operation Suggestions - On Friday after the market, the Shanghai Futures Exchange clarified that the last trading day of the February contract is February 9, and the expectation of the pre - Spring Festival shipping rush further fermented in the February contract. The December contract was weak as the price increase implementation was less than expected. The SCFIS index fell 9.8% week - on - week to 1357.67 this week. Shipping companies' online quotes changed little. Airlines have not formed a unified price - holding force, and the price increase implementation in December was less than expected, but there is still a far - month price increase expectation [8]. 2. Industry News - From November 10 to November 14, the China export container shipping market was generally stable, and the freight rates of ocean routes continued to show a differentiated trend, with the composite index slightly declining. In October, the added value of industrial enterprises above designated size increased by 4.9% year - on - year. On November 14, the Shanghai Export Containerized Freight Index was 1451.38 points, down 2.9% from the previous period. The eurozone's November ZEW economic sentiment index was 25, up from the previous value. The freight rate of the European route increased by 7.1%, the Mediterranean route was stable, and the North American route continued to adjust. There were also statements from Israeli and Turkish officials regarding the Palestinian - Israeli issue [9][10]. 3. Data Overview 3.1 Container Shipping Spot Prices - On November 17, 2025, the SCFIS for the European route (basic ports) was 1357.67, down 9.8% from November 10; the SCFIS for the US - West route (basic ports) was 1238.42, down 6.9% from November 10 [12]. 3.2 Container Shipping Index (European Line) Futures Market - Provided trading data for multiple contracts of container shipping European line futures on November 18, including pre - settlement price, opening price, closing price, settlement price, change, change rate, trading volume, open interest, and open interest change [6]. 3.3 Shipping - Related Data Charts - Included multiple charts such as container ship capacity in Europe, global container ship orders on hand, Shanghai - European basic port freight rates, and Shanghai - Rotterdam spot freight rates [18][23]